| At the beginning of 2021,China’s poverty alleviation campaign has achieved comprehensive victory.The focus of the "three rural" work will shift to comprehensively promoting rural revitalization.Inclusive finance refers to providing appropriate and effective financial services at affordable costs to people from all walks of society who have financial service needs,based on the principles of equal opportunities and commercial sustainability.Currently,inclusive finance in China has entered a new development stage,with the goal of sharing the achievements of financial development with market entities and the general public.In this context,from a micro family perspective,in-depth research on the impact of inclusive finance on household income in China has important practical significance for consolidating the achievements of poverty alleviation and improving the quality of life of the people.This paper will first conduct a theoretical analysis of the relationship between inclusive finance and household income,and elucidate the direct impact and indirect effect mechanisms of inclusive finance on household income.Secondly,from a micro household perspective,we will construct a household inclusive finance index based on the 2019 CHFS data to measure the development of inclusive finance at the household level in China.Thirdly,we will analyze the impact of inclusive finance on household income through stepwise regression.To further explore the heterogeneity of the impact of inclusive finance on household income,we will divide Chinese households according to regions and income levels and conduct heterogeneity analysis.Finally,we will test the mediating effect of non-agricultural employment level through full sample and subgroup regression.Based on the above theoretical analysis and empirical research,the following conclusions can be drawn: First,the development level of inclusive finance at the household level in China is not high enough,and there are inter-provincial differences.Second,Inclusive finance and its dimensions have a significant positive impact on household income.Third,the income-increasing effect of inclusive finance on rural,central and western regions,and low-income households is greater than that on urban,eastern regions,and high-income households.Fourth,Inclusive finance can improve household non-agricultural employment levels and thereby increase household income.Finally,based on the analysis and empirical research throughout the paper,the following recommendations are proposed: First,Improve the inclusive finance system and implement targeted policies.Second,Strengthen the construction of digital financial infrastructure to increase financial coverage.Third,innovate financial products and services to meet personalized needs.Fourth,promote financial literacy to improve the accessibility of financial services.Fifth,enhance endogenous development momentum and promote household income growth. |
